Economics

A Lehman’s Guide to the Future

A Lehman’s Guide to the Future

This post is part of my series on Black Swans and the crucial need to keep real Margin built into our lives. Upcoming is the Tenth Anniversary of Lehman Brothers’ bankruptcy on September 15, 2008, the largest such filing in U.S. history and the trigger for the...
There’s a New Tariff in Town

There’s a New Tariff in Town

Veteran readers in this space will know that one of my favorite books is Henry Hazlitt’s Economics in One Lesson.  See my post from 2013 entitled What We Don’t See is Killing Us for a reminder. And I will again quote several sentences from Chapter 15 which capture...
How Do You Say Black Swan in Mandarin?

How Do You Say Black Swan in Mandarin?

Michael Schuman’s reminder in a recent BusinessWeek article is one of the clearest high level observations I’ve read on the perverse and unpredictable nature of too much debt in the short run, never mind the long term requirement to repay it; he focuses on the...
Better Ideas for the Economy

Better Ideas for the Economy

Most Western countries are experiencing a revolt against the intellectual and political elites who have governed nations, the media, academia and central banks for as long as most adults can remember. While the country-specific details vary slightly, the common wisdom...
This Unfortunate Election: What To Do?

This Unfortunate Election: What To Do?

We are only about two weeks from this unfortunate election, and millions have already voted.  I want to give you my current thoughts, with the caveat of retaining the right to modify my views right up to the day when I pull a lever. Let me also confirm that we are all...